Highlights:
As the year draws to a close, commodity markets have quieted down from the more volatile price movements that have characterized the past two years. With the exception of rice, prices for most grains and oilseeds are 15 to 20 percent below January 2022 levels. Yet, even rice prices have fallen back from recent highs as global production prospects look more favorable than they did in late summer. Despite a slowing global economy, demand for agricultural products remains strong and is expected to hit record levels in the 2023/24 marketing season. Lower prices mean reduced profitability for grain and oilseed farmers though lower costs for fuel and fertilizer will help mitigate that impact.
Year of publication | |
Publisher | AMIS |
Geographic coverage | Global |
Originally published | 12 Dec 2023 |
Related organisation(s) | FAO - Food and Agriculture Organization of the United NationsIFPRI - International Food Policy Research InstituteOECD - Organisation for Economic Co-operation and DevelopmentWTO - World Trade Organisation |
Knowledge service | Metadata | Global Food and Nutrition Security | Food security and food crises |
Digital Europa Thesaurus (DET) | crop productionprice of agricultural producecerealsfertiliseragricultural market |